E-payment transactions in Q1 2021 rise 82% to N66trn
On
Account maintenance fees up 60% to N30.9bn
By Babajide Komolafe & Elizabeth Adegbesan
Nigeria’s financial system has recorded further surge in the value of electronic payment (e-payment) transactions to N65.6 trillion in the first quarter of the year (Q1’21) indicating a whopping 82 percent Year-on-Year, YoY, increase from N36.02 trillion in the corresponding period of 2020 (Q1’2020).
Industry analysts have indicated that the development is connected to remote transactional relationship imposed on businesses and the general public by COVID-19 protocols which has already created a new normal in financial transaction.
Data on the four major e-payment channels released by the Nigeria Interbank Settlement System (NIBSS) shows that the surge is driven by a 80 per cent YoY increase in volume of transactions to 54.07 billion in Q1’21 from 30.04 billion in Q1’2020.
Views: Visits 16 Banks grow e-payment income by 51% to N53bn Account maintenance fees up 60% to N30.9bn By Babajide Komolafe & Elizabeth Adegbesan Nigeria’s financial system has recorded further surge in the value of electronic payment (e-payment) transactions to N65.6 trillion in the first quarter of the year (Q1’21) indicating a whopping 82 percent Year-on-Year, YoY, increase from N36.02 trillion in the corresponding period of 2020 (Q1’2020). Industry analysts have indicated that the development is connected to remote transactional relationship imposed on businesses and the general public by COVID-19 protocols which has already created a new normal in financial transaction. Data on the four major e-payment channels released by the Nigeria Interbank Settlement System (NIBSS) shows that the surge is driven by a 80 per cent YoY increase in volume of transactions to 54.07 billion in Q1’21 from 30.04 billion in Q1’2020.
Vanguard News
USAFRICOM: Burying Barre’s Ghost
On
By Emeka Obasi
Somalian dictator, Mohamed Siad Barre, found home in Nigeria following his ouster in 1991 and rejection by Kenyan opposition when he arrived Nairobi for refuge. The maximum ruler died in Lagos five years later and it appears his blood soaked evil spirit is hovering all over the nation.
I received the good news that President Muhammadu Buhari has asked for help from the United States to tackle the unprecedented flood of insecurity that may consume the country and perhaps create a mass of refugees all over the the West African Sub Region.
FCMB
First City Monument Bank (FCMB), in partnership with Tulsi Chanrai Foundation (TCF) of India, has so far carried out free eye surgeries, correctional testing services and provided glasses to over 300,000 Nigerians under the Bank’s Corporate Social Responsibility (CSR) programme, tagged Priceless Gift of Sight. Out of this number, the sight of almost 17,000 visually impaired Nigerians have been restored through surgeries, while the rest underwent tests to correct various eye defects and also received glasses.
The yearly intervention, which started in 2009, is designed to combat cataracts and other eye defects that could lead to blindness among underprivileged adults and children across various communities in Nigeria. FCMB has sustained this programme for thirteen consecutive years (2009 till date) by offering free testing, surgeries and glasses in partnership with TCF in Kebbi, Cross River, Imo, Abuja, Katsina and Adamawa.
First City Monument Bank (FCMB), in partnership with Tulsi Chanrai Foundation (TCF) of India, has so far carried out free eye surgeries, correctional testing services and provided glasses to over 300,000 Nigerians under the bank’s corporate social responsibility (CSR) programme, tagged ‘Priceless Gift of Sight.’
According to a statement from the bank, out of the aforementioned number of beneficiaries, the sight of almost 17,000 visually impaired Nigerians have been restored through surgeries, while the rest underwent tests to correct various eye defects and also received glasses.
The yearly intervention, which started in 2009, was designed to combat cataracts and other eye defects that could lead to blindness among underprivileged adults and children across various communities in Nigeria.